4. Warren Buffett, Chairman of Berkshire hathaway Inc. stated the following in his letter to shareholderas in 2002:
Charlie (CEO of Berkshire Hathaway) and i are of one mind in how we feel about derivatives and the trading activities that go with them: we view them as time bombs, both for the parties that deal in them and the economic system”

To what extent do yu agree with tgese comments, especially in the light of the recent credit crunch?